Sells shares to own employees

In connection with Orkla’s offer to all employees in Norway, Sweden, Denmark and Finland of an opportunity to buy Orkla shares at a 20% discount, employees have purchased a total of 352,920 shares at a discounted price of NOK 93.20, equivalent to 80% of the market price of NOK 116.50 on 12 November 1999.

For this purpose, on 9 December 1999, Orkla transferred 352,920 shares to Den norske Bank (DnB) which will effect the further transfer of shares to employees. After this transaction, the Orkla Group has a total holding of 7,349,588 shares in Orkla ASA (including 80% of the shares owned by Oktav Invest).